Prentiss County Electric Power Assn
- Assets
- $61.8m
- Revenue
- $32.6m
- Investments
- $0.0
- Employees
- 41
- Location
- Booneville, MS
- Founding
- 04/1937
- Data as of
- 06/2021
- EIN
- 64-0225540
Organization Overview
Prentiss County Electric Power Assn is located in Booneville, MS. The organization was established in 1937. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2021, Prentiss County Electric Power Assn employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prentiss County Electric Power Assn is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 06/2021, Prentiss County Electric Power Assn generated $32.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $31.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING RETAIL SALE OF ELECTRICITY AND FIBER INTERNET SERVICE AND THE OPERATING AND MAINTAINING OF THE SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POWER PURCHASES
SALARIES AND WAGES CHARGED DIRECTLY TO EXPENSE
DEPRECIATION ON BUILDINGS EQUIPMENT AND ELECTRICAL PLANT FOR THE YEAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronny Rowland General Manager | Officer | 50 | $158,211 |
Robert Dodson Assistant Manager | Officer | 40 | $136,276 |
David S Church Engineer | Officer | 40 | $112,520 |
Garry Kennedy | Trustee | 1 | $2,075 |
Bud Davis | Trustee | 1 | $2,075 |
Lane Smith Secretary Treasurer | OfficerTrustee | 1 | $1,950 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K & B Communications Llc Fiber Installation | 6/29/21 | $5,152,411 |
Wa Kendall & Company Right Of Way Trimming | 6/29/21 | $419,317 |
Best Choice Lawn Care Brush Cutting Right Of Way | 6/29/21 | $161,345 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $94,200 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,406,314 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,598,599 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $486,747 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,093,117 |
| Pension plan accruals and contributions | $535,136 |
| Other employee benefits | $294,483 |
| Payroll taxes | $197,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $943 |
| Office expenses | $64,594 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,654 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $682,051 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,468,663 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $31,141,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,500 |
| Savings and temporary cash investments | $15,381,714 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,873,654 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $437,544 |
| Prepaid expenses and deferred charges | $6,446,981 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,778,437 |
| Total assets | $61,794,032 |
| Accounts payable and accrued expenses | $4,832,200 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,614,983 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,596,904 |
| Total liabilities | $29,044,087 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $724,841 |
| Total liabilities and net assets/fund balances | $32,749,945 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
4-County Electric Power Association Columbus, MS | $315,642,901 | $133,649,967 |
Beauregard Electric Cooperative Inc Deridder, LA | $317,710,520 | $130,661,746 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Northcentral Electric Cooperative Olive Branch, MS | $185,941,805 | $125,968,963 |
Tombigbee Electric Power Assn Tupelo, MS | $221,161,642 | $118,553,499 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Dixie Electric Power Assn Laurel, MS | $277,061,319 | $96,509,999 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Central Electric Power Association Carthage, MS | $142,416,370 | $101,127,410 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |